What did GM do wrong?
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They were the largest car company in the world. What happened? What was their mistake? What was circumstance?
Answers to this question:They let the government bail them out. Now they will never recoup the stocks that should have gone back to the shareholders. (Just being grumpy) ignore me.
Io agree with your grumpiness. Why did they get into the trouble they did? I don't have a right answer in mind. I have an opinion and I'm interested in other opinions.
Grumpy or not, it's true Linda, My sister, who resides in Dallas, where I'm originally from, recently retired from GM- after 30 yrs. The stories she could tell you...
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They did not prepare for cost of gas rising and preparing for smaller vehicles, they continued with larger vehicles and were not prepared when people started purchasing smaller vehicles, the high labor costs hurt them, they had also allowed continuing retirement and health plans for workers lifetime to make them have to add $1500. to the cost of each vehicle and at some point even that would not have been enough. They waited too long to file chapter 11 and reorganize. I think they could have done a lot better without a bailout from the government, been less arrogant, if they would have stood on their own two feet, and acted sooner.
That - plus a number of other mistakes.
Was it not that they had way too many models in the car and truck range, this is what one dealer told me recently and after making the restrucutre they now only have 6 vehicles rather than 20.
As well as making a profit.
GM continued to do business as usual ignoring the latest trends in the industry, customer wants and the successfull business of their competition. They relied heavily on their brand name and took their customers for granted by continuing to produce inefficient fuel consuming automobiles. Low sales and hig production cost is always a recipe for business failure.
The same thing all the rest of them did- Became too greedy!
It's not the Tucker that is for sure.
Total Answers: 7, Total Page Views: 358.Is it Cadilac
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